May 20, 2018 8:56 AM ET

Consumer Finance

Company Overview of Daimler Financial Services AG

Company Overview

Daimler Financial Services AG provides automotive financial and mobility services. Its financial services include vehicle financing; financial services for dealerships; leasing services; insurance products; fleet management services that comprise purchase, use, and maintenance of their vehicles; and banking services, including investment opportunities and credit card programs. The company’s mobility services include car2go, a car-sharing service that allows for vehicle rentals and down-to-the-minute billing; car rental services through Mercedes-Benz Rent that enables customers to find rental vehicles for various occasions; moovel, a smart-phone application that allows customers to compare va...

Siemensstr. 7

Stuttgart,  70469

Germany

Phone:

49 71 125 740

Fax:

49 711 25 74 8005

Key Executives for Daimler Financial Services AG

Chairman of Management Board and Chief Executive Officer
Age: 61
Head of Finance and Member of Management Board
Chief Executive Officer of Daimler Financial Services Japan Co Ltd
CXO & Member of Board of Management
Head of Mobility Services
Compensation as of Fiscal Year 2017.

Daimler Financial Services AG Key Developments

Daimler Financial Services AG Reports Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year 2018

Daimler Financial Services AG reported earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported EBIT was €548 million compared to €524 million for the same period last year. This positive development was mainly the result of increased contract volume. On the other hand, the higher level of interest rates and negative exchange-rate effects had a negative impact on earnings. Revenue was €6,020 million compared to €5,911 million for the same period last year. The company provided earnings guidance for the year 2018. The company expects EBIT significantly above the prior-year level.

Daimler Financial Services Announces Executive Changes

Daimler Financial Services AG is expanding its Board of Management by one new business field. In his role as Chief Experience Officer, Benedikt Schell will assume immediate responsibility for expanding the digital business models of the financial and mobility service provider Daimler Financial Services, as well as for its global customer and digital strategy. Jorg Lamparter, CEO of the moovel Group, recently assumed responsibility for all mobility services within Daimler Financial Services. This includes overseeing the brands car2go, moovel, and mytaxi, along with managing the company's partnerships with Blacklane and FlixBus. In close coordination with Jorg Lamparter, Benedikt Schell, CXO at Daimler Financial Services, will oversee the expansion of digital services in financing and mobility. Both positions, Benedikt Schell as CXO and Jorg Lamparter as Head of Mobility Services, are effective August 1, 2017 and will report directly to Klaus Entenmann, CEO of Daimler Financial Services AG.

Daimler Financial Services Announces Earnings Results for the Second Quarter of 2017

Daimler Financial Services announced earnings results for the second quarter of 2017. For the quarter, the company reported EBIT rose 9% year-on-year to EUR 522 million. Exchange-rate effects had a positive impact on operating profit.

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